Personal Assistants 2
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Welcome to the course!
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The Real Estate Business
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Law & Qualifications
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License Law And Commission Rules
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Authorized Relationships, Duties, And Disclosure
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Brokerage Offices and Branch Requirements
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Violations Of License Law, Penalties And Procedures
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Chapter 8
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Property Rights
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Title, Deeds And Ownership Restrictions
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Legal Descriptions
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Real Estate Contracts
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Residential Mortgages
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Types of mortgages
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Real Estate Related Computations And Closing Of Transactions
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The Real Estate Markets And Analysis
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Real Estate Appraisal
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Real Estate Investments And Business Opportunity Brokerage
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Taxes Affecting Real Estate
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Planning, Zoning And Environmental Hazards
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Course Assessments
FLORIDA REAL ESTATE SALES ASSOCIATE COURSE
Brokerage Offices and Branch Requirements
Section 29 of 31
If your assistant holds a valid real estate license, they are legally a "Sales Associate," even if they are just helping you. They can do everything you can do (show homes, negotiate contracts, explain forms).Paying a LICENSED Assistant: If they are helping you sell houses (showing, negotiating), any commission they earn must be paid to them by the Broker, not by you. (Remember: Sales associates can't pay other sales associates directly).For "Clerical" Work: If they are licensed but only doing filing and data entry, you can pay them a salary directly. However, to stay safe, most brokerages prefer all checks to flow through the Broker to avoid confusion.Paying an UNLICENSED Assistant: Who pays: You (the Sales Associate) can pay them directly from your own pocket. They must be paid a salary or hourly wage.Restriction: You generally cannot pay them a commission or a bonus per transaction. Paying an unlicensed person a fee based on a closed deal is considered "sharing a commission," which is illegal.
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